Highest recorded European styrene spot prices since July 2008

Chemicals , Plastics Sep 09, 2012 No Comments

StyreneEuropean styrene spot prices are at their highest level since July 2008 because of a lack of availability and a surprising level of demand, market sources said on Friday.

September spot styrene was offered at $1,700/tonne (€1,343/tonne) FOB (free on board) Rotterdam on Thursday evening. This is the highest price recorded since mid-July 2008, when spot styrene traded at a record high of $1,860/tonne.

Current levels are blamed on a combination of factors, including a lack of US imports because of a tight domestic market, cutbacks in operating rates in Europe and an “unexpected” level of demand.

Meanwhile, benzene spot prices remain high and it seems that much of the support is coming from the styrene market.

Spot benzene for prompt September delivery was offered at $1,400/tonne, up by $75/tonne on the previous week’s close.

via Europe styrene spot prices at highest level since July 2008.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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